250,000 SF Apartment For Sale — $2,000,000 — 309 S Palmway, Lake Worth Beach – #81857

Executive Summary
Kislak is pleased to present 309 South Palmway, an eight-unit multifamily investment opportunity located in the highly desirable Bryant Park neighborhood of Lake Worth Beach, Florida. South Palmway is regarded as one of Lake Worth Beach’s most sought-after and highly valued residential streets, prized for its established residential character, proximity to the Intracoastal Waterway and immediate access to downtown. The property is situated just one block from Bryant Park and minutes from Downtown Lake Worth Beach and the Atlantic Ocean. The two-story property consists entirely of one-bedroom/one-bathroom residences.
The property has benefited from significant recent capital improvements, including a new roof, impact-resistant windows and doors, and complete exterior painting. Additional amenities include private patios and dedicated storage sheds for the four first-floor residences, a detached CBS laundry building with coin-operated washer and dryer, and nine designated, lighted on-site parking spaces.
The offering provides investors with an attractive opportunity to acquire a well-maintained multifamily asset with meaningful embedded rental upside. Current rents range from $1,400 to $1,615 per month, compared with projected market rents of $1,800 per unit, representing approximately $29,520 in potential additional annual base rental income.
The property's combination of a premier South Palmway address, recent capital improvements, strong residential setting and rental upside offers investors a compelling opportunity in one of Palm Beach County's increasingly desirable coastal markets.